01657881

Component

Highways can impact the urban land market in two ways: positively by reducing transportation costs for travel that increases accessibility, and negatively by increasing negative externalities such as noise and air pollution. Using the examples of the Lincoln Alexander Expressway (LINC) and Red Hill Valley Expressway (RHVP) in Hamilton, Canada, the authors show that highway infrastructure is associated with positive LVU benefits. Time-series models find significant appreciation of up to 4.5% for single-detached homes around highway ramps after the highways opened. Cross-sectional models show that high levels of accessibility near highway ramps is associated with a 10% increase in land value, but this is partially offset by negative externalities of between 1.5% to 2% for homes being within 200 metres of the highway right-of-way. While results for the air pollution measures are inconclusive, the results suggest the highway projects are on the whole positively valued by homeowners in Hamilton.

This paper was sponsored by TRB committee ADD30 Standing Committee on Transportation and Land Development.

18-03789

English

6p

2018

Transportation Research Board 97th Annual Meeting

Digital/other

Figures; Maps; References

Accessibility; Air pollution; Externalities; Highways; Infrastructure; Land values; Time series analysis

Hamilton, Canada

Economics; Environment; Highways

Transportation Research Board Annual Meeting 2018 Paper #18-03789

TRIS, TRB, ATRI

Jan 8 2018 10:56AM